OrbitGTM Review: Offshore Scam Broker Exposed
Explore our in-depth OrbitGTM review to gain a thorough understanding of their services. Our analysis reveals concerning issues such as the broker’s lack of regulatory compliance, which puts your funds at risk. Read on to discover more about these significant details. Let’s dig deeper!
|Aurora Solutions LTD
|Commonwealth of Dominica
|FSMA, CONSOB, DFSA
Exploring OrbitGTM’s Commitment to Safety and Regulation
It is critical to note that OrbitGTM, a forex brand owned by Aurora Solutions Ltd, operates without regulatory oversight. It does not fall under the purview of reputable authorities such as the FSU or Tier 1 regulators like FCA, ASIC, or BaFin. Instead, it is based in the Commonwealth of Dominica, an offshore destination.
This absence of regulatory affiliation exposes your funds to significant risks. In the unfortunate event of any issues arising, you will have no recourse to complain against OrbitGTM.
The lack of a proper license is a cause for concern. Offshore brokers often have a limited lifespan, during which they typically exploit clients’ funds before closing their websites and re-emerging as fraudulent entities. In our investigation, we sought to determine if any regulatory bodies recognized the scam being conducted by OrbitGTM. Our research indicates that the Belgian FSMA was the first to issue an official warning about OrbitGTM. This was followed by similar alerts from the Italian CONSOB and Danish DFSA. Collectively, these warnings indicate that OrbitGTM engages in fraudulent trading practices.
To ensure your safety and protect your investments, it is crucial to steer clear of OrbitGTM, as well as Bitech Max and its deceitful practices.
Overview of OrbitGTM’s Trading Platform
When evaluating OrbitGTM’s trading platform, there are a few noteworthy aspects to discuss. Both the web-based platform and downloadable apps adhere to a standard format commonly seen among web-based traders. Notably, the mobile version seems to primarily cater to Android users.
In terms of advanced features, OrbitGTM lags behind reputable trading companies powered by MT4 or MT5 platforms. While they do offer a variety of charts and indicators, OrbitGTM fails to match the industry-standard MetaTrader platforms provided by legit brokers.
OrbitGTM’s Deceptive Bonus Policy
OrbitGTM employs shady tactics as part of its fraudulent activities, including bonuses, loans, and partnership programs. They actively seek out affiliates, enticing them with attractive commissions that can be as high as $600. These commissions are offered in exchange for promoting the company on various social media platforms.
This deceptive scheme bears striking similarities to multi-level marketing (MLM) practices. It operates on a similar premise, luring people with the promise of earning money through bonuses. However, these bonuses come with significant limitations. Once received, they restrict your ability to withdraw funds or make deposits.
In reality, these promised funds are nothing but an illusion designed to trap people. It’s important to understand that these bonuses are not intended for financial gain. You will be unable to access your earnings or make deposits, preventing you from reaping rewards.
Explore the Variety of Account Types
OrbitGTM offers six account types. These accounts are prepared to meet traders’ diverse requirements, as they claim.
- Bronze Account: The bronze account requires a minimum deposit of $250. It provides essential features.
- Silver Account requires a deposit of $10,000.The silver account offers extra features, including full access to the educational center.
- Gold Account: This one requires an initial deposit of $50,000. It provides senior account analysts, with weekly trading sessions, and private education sessions.
- Platinum Account: Designed for experienced traders. The platinum account requires a $100,000 deposit. It offers a comprehensive education package, private education sessions, and consultations with a senior account chief analyst.
- Diamond Account: With a deposit of $250,000, the diamond account provides similar services to the VIP account. Extra features include weekly private education sessions, a savings account, and participation in the diamond trading program.
- VIP Account: The VIP account, suitable for professional traders and corporations, requires an initial deposit of $500,000. It grants access to the VIP trading program, which offers exclusive benefits and features.
Keep in mind that this company is fraudulent and stay away from their bogus offers.
Available Funding Methods
If you’re eager to invest despite the challenges, OrbitGTM offers a minimum deposit requirement of $250 or $500, depending on the chosen payment method. While the available options may not be extensive, you can still add funds to your account using the following methods:
- Bank card: To fund your account, you can use your debit or credit card. The minimum deposit amount for this method is $250.
- Wire transfer: Alternatively, you can use a wire transfer to add funds to your account. The minimum deposit amount for wire transfers is $500.
It’s worthwhile to note that OrbitGTM has specific rules regarding fund withdrawals. You can only withdraw funds using your card or bank account. Additionally, OrbitGTM requires KYC (Know Your Customer) documents to ensure transaction security and legitimacy. These documents verify your identity and enable you to withdraw funds when needed.
How Does the Scam Intervene?
Broker scams employ various tactics that raise suspicions of fraudulent activity. These scams often entice individuals through enticing bonuses, loans, and partnership programs. Affiliates are actively sought after, offering generous commissions for promoting the company on social media platforms or referring new clients.
These schemes resemble MLM (Multi-Level Marketing) or Ponzi schemes, exhibiting similar characteristics and red flags. It is crucial to approach such situations with caution, not solely relying on promised monetary gains.
Furthermore, it is critical to be aware that bonuses offered by these brokers often come with restrictive conditions. These limitations can make it nearly impossible for investors to withdraw profits or access their initial deposits.
To protect yourself, exercise caution when dealing with any company or scheme that exhibits suspicious practices. Conduct thorough research, seek guidance from reputable financial authorities, and remain vigilant against broker scams that can jeopardize your investments.
Gain Valuable Insights and Information
If you have had a negative experience with this or any other fraudulent broker, we ask you to share your story with us. Our goal is to support you in every possible way.
Also, we’re here to help you find the most reliable FX broker on the market. Reach out to us today for a free consultation and find out what are the most reliable brokers in the industry.
OrbitGTM: An Overview of Concerns and Risks
OrbitGTM operates without regulatory oversight, putting your funds at risk. The company is not regulated and is based in the Commonwealth of Dominica, an offshore destination. Also, reputable authorities like the Belgian FSMA, Italian CONSOB, and Danish DFSA have issued official warnings.
Their trading platform lacks advanced features compared to established brokers that use MetaTrader platforms. Also, they offer six account types, from bronze to VIP, with varying minimum deposit requirements of $250 to $500 depending on the payment method. All in all, everything about this broker is bogus. Stay alert and protect yourself from potential trading scams associated with OrbitGTM.
Don’t miss out on the opportunity to book a free consultation with us and discover the best trustworthy broker.
Is OrbitGTM regulated?
OrbitGTM is not regulated. Keep that in mind.
Is OrbitGTM a safe place for my money?
No, they are not safe. Stay away from them.
Is a demo account available on OrbitGTM?
A demo account is not available at OrbitGTM.